Banking Awareness Practice Set
1. What is the interest rate of Sukanya Samriddhi Accounts as on 01st January 2018?
Answer : 8.1% Per Annum
2. Sukanya Samriddhi Accounts can be closed after completion of
Answer : 21 years
3. If minimum Rs __________is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year in Sukanya Samriddhi Accounts?
Answer : Rs 1000/-
4. Sukanya Samriddhi Accounts can be opened up to age of _______ years only from the date of birth.
Answer : 10 years
5. What is the interest rate of KVP as on 01st January 2018?
Answer : 7.3% compounded annually
6. The objectives of setting up of payments banks will be to further financial inclusion by providing
Answer : Low income households
7. Acceptance of demand deposits. Payments bank will initially be restricted to holding a maximum balance of __________ per individual customer.
Answer : Rs 1 lakh
8. Payments banks cannot issue
Answer : credit cards
9. What is the Scope of activities of Payment Banks?
Answer : Payments and remittance services through various channels
10. The minimum paid-up equity capital for payments banks shall be
Answer : Rs. 100 crore
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